Highlights for Saturday December 31 Your Safe Money Show

On this Saturday's (12-31-16) Your Safe Money Show I'll explain what to do with an inherited IRA or 401(k). There are specific things you need to do in a timely manner to avoid tax implications. And what is your money personality type? Once you understand your type you can make better financial decisions. Tune into KBEK 95.5 FM at 7:30 a.m.They also stream live at kbek.com. 

Student loan repayment and Social Security

How important is it to pay off student loan debt? Well many people don’t realize that the Federal government can garnish your Social Security check to pay off federal student loans. The Department of Education, which provides federal student loans to borrowers, say it tries to work out payment plans with people who fall behind on their loans. A spokesman for the department, said that accounts aren’t sent off to collections until almost two years of non-payment; if collection doesn’t yield results, the loan balance goes to the Treasury Department, which can reduce Social Security checks.
For its part, the Treasury Department said it reaches out to borrowers twice to set up a payment plan or otherwise resolve their debt before offsetting money from their Social Security check. And the Treasury won’t withhold money from monthly checks that total $750 or less.
Sometimes student loan debt is from someone co-signing for a child or grandchild, sometimes it’s from someone seeking higher education later in life. Just be aware student loan debt can follow you right into retirement.

Your Safe Money Show Fed Rate Hike 12 24 16

Your Safe Money Show Finding your retirement age 12 17 16

Highlights for December 17 Your Safe Money Show

How much do you spend on holiday gifts? I have information on what the average American spends and ways to not overspend.
 LED light bulbs are being used more and more today we’ll find out the pro’s and con’s using those lights.
 And finding the right retirement age for you is never an easy task but I’ll have tips that can help you with that decision.  
Listen at 95.5 FM KBEK at 7:30 a.m., stream live at kbek.com, check out our podcast page.

Renter's Insurance

According to the Insurance Information Institute, only 37% of renters have insurance.

Many people who rent don’t think they need renter’s insurance because they either think that their landlord’s insurance takes care of their personal possessions, or they think they don’t have a lot of “stuff” so they don’t purchase coverage.

Renters insurance protects you from all kinds of disasters (fire, storm, theft, etc.). And what many people don’t know is that renter’s insurance even covers your belongings if they are damaged outside of your home. It also covers you for the kind of disasters you may never think of, like personal liability. Liability insurance covers you if a guest in your home hurts himself and they try to hit you up for medical expenses.

And lastly, most renter’s insurance policies will help you pay for temporary living expenses and food if you find yourself suddenly homeless after a fire or other disaster. The best part about renter’s insurance is how cheap it is. The average policy costs just 15 to 30 bucks per month. Most policies come with deductibles starting around a few hundred dollars. Call 320-679-5183 and ask for Dennis Norby.

Your Safe Money Show Protecting Your Personal Information 12 10 16